As the Nikkei 225 continued its modest decline, Tokyo Electron fell as much as 5%. Rising interest rates in the United States and Japan and the decline in semiconductor stocks were cited as contributing factors.
In Tokyo trading on the 1st, the Nikkei 225 extended its modest decline. The index closed at ¥66,215.34, down ¥96.59 from the previous day, after falling more than ¥700 at one point in morning trading. The previous day's decline in U.S. stocks, driven by higher oil prices, and rising long-term interest rates in Japan and the United States reportedly weighed on the market.
Tokyo Electron shares fell as much as 5%, and semiconductor-related stocks broadly came under selling pressure, according to reports. The view was that trends in the U.S. market and the interest-rate environment had an impact. The article also includes a subscriber-only section of the Nikkei electronic edition.
As for movements in the U.S. stock market, the Dow Jones Industrial Average continued to decline on the previous day, 31 August, amid concerns about disruptions to energy transportation and growing inflation concerns. These factors were said to have put downward pressure on the Japanese market.